Pareto Inferior Trade
- 1 January 1984
- journal article
- Published by Oxford University Press (OUP) in The Review of Economic Studies
- Vol. 51 (1) , 1-12
- https://doi.org/10.2307/2297701
Abstract
The paper shows that between two competitive but risky economies with no insurance markets, free trade may be Pareto inferior to no trade. The modelKeywords
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